Divina Company reported $4,000,000 in income from continuing operations and $500,000 in income from discontinued operations for a total net income of $4,500,000 for the current year. Divina also reported various unrealized gains and losses from financial assets and liabilities as well as remeasurements of employee benefits and foreign operations that amounted to a net other comprehensive income of $2,000,000 for the current year. Adding net income and other comprehensive income together, the total comprehensive income reported by Divina for the current year was $6,500,000.
Divina Company reported $4,000,000 in income from continuing operations and $500,000 in income from discontinued operations for a total net income of $4,500,000 for the current year. Divina also reported various unrealized gains and losses from financial assets and liabilities as well as remeasurements of employee benefits and foreign operations that amounted to a net other comprehensive income of $2,000,000 for the current year. Adding net income and other comprehensive income together, the total comprehensive income reported by Divina for the current year was $6,500,000.
Divina Company reported $4,000,000 in income from continuing operations and $500,000 in income from discontinued operations for a total net income of $4,500,000 for the current year. Divina also reported various unrealized gains and losses from financial assets and liabilities as well as remeasurements of employee benefits and foreign operations that amounted to a net other comprehensive income of $2,000,000 for the current year. Adding net income and other comprehensive income together, the total comprehensive income reported by Divina for the current year was $6,500,000.
Divina Company provided the following information for the current year:
Income from continuing operations 4,000,000
Income from discontinued operations 500,000 Unrealized gain on financial asset – FVPL 800,000 Unrealized loss on equity instrument – FAFVOCI 1,000,000 Unrealized gain on debt instrument – FAFVOCI 1,200,000 Unrealized gain on futures contract designated as cash flow 400,000 hedge Translation loss on foreign operation 200,000 Net remeasurement gain on defined benefit plan 600,000 Loss on credit risk of a financial liability as FVPL 300,000 Revaluation surplus during the year 2,500,000
1. What amount should be reported as net income for the current year ?
2. What net amount should be reported as OCI for the current year ?
3. What amount should be reported as comprehensive income for the current